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Stock Market & Financial Investment News

News Breaks
June 13, 2014
10:09 EDTTIME, MDP, TWXTime Inc. seen as acquistion target for Meredith
Magazine publisher Time Inc. (TIME) could be acquired by another magazine publisher, Meredith (MDP), late next year, Citigroup wrote in a note to investors earlier today. Citigroup initiated coverage of Time, which was spun off earlier this month by Time Warner (TWX), with a $28 price target and Buy rating. WHAT'S NEW: Meredith could buy Time in the fourth quarter of 2015, Citi analyst Jason Bazinet predicted. The deal is not likely to occur before then because of the tax-free nature of the Tiime spin-off, the analyst believes. Time shareholders would probably receive $28 per share in a takeover and would have 40%-48% of Meredith's equity following the deal, Bazinet estimated. The combined company could obtain $175M in annual cost savings from the deal and Meredith's stock would likely rise in the wake of the acquisition, the analyst believes. PRICE ACTION: In early trading, Time fell about 1% to $22.28 while Meredith was also down 1% to $43.80.
News For TIME;MDP;TWX From The Last 14 Days
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October 30, 2014
17:02 EDTMDPDOJ requires divestitures in Media General acquisition of LIN Media
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09:00 EDTTWXTime Warner Cable not concerned about other companies eating into business
In light of announcements from HBO (TWX) and CBS (CBS) for stand-alone streaming services, the company said it is more intrigued and more than prepared to work with video programmers to provide better video propositions.
08:23 EDTTWXMurdoch sees HBO online service doing 'fine' to start, WSJ reports
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06:34 EDTTWXHBO sees opportunity to offer streaming option through Apple TV, Xbox, WSJ says
According to sources, HBO, a unit of Time Warner (TWX), is currently examining methods to offer consumers a standalone streaming video service, including as an add-on to broadband packages or through Apple TV (AAPL), Microsoft's (MSFT) Xbox, Amazon (AMZN) devices, or Roku, reports the Wall Street Journal. Reference Link
October 29, 2014
18:07 EDTTIMETime Inc. declares initial quarterly dividend of 19c per share
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October 28, 2014
09:44 EDTTWXTime Warner's HBO to announce layoffs this week, Variety reports
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October 23, 2014
08:05 EDTMDPMeredith sees Q2 EPS 95c-$1.00, consensus 99c
Sees Q2 revenue up in the low teens.
08:04 EDTMDPMeredith backs FY15 EPS view $3.00-$3.25, consensus $3.17
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08:04 EDTMDPMeredith reports Q1 EPS 65c, consensus 64c
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07:53 EDTTWXAlibaba CEO ups Hollywood content pursuit with studio meetings, Bloomberg says
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07:11 EDTMDPNexstar to acquire assets of KASW-TV for $68M from Meredith, SagamoreHill
Nexstar Broadcasting Group (NXST) has entered into a definitive agreement to acquire the assets of KASW-TV, the CW affiliate serving the Phoenix, AZ market for $68M plus working capital from Meredith Corporation (MDP) and SagamoreHill of Phoenix, LLC. The proposed acquisition is expected to be accretive to Nexstarís operating results immediately upon closing and inclusive of all other previously announced transactions, will expand the Companyís coverage to 57 markets in 22 states, reaching approximately 19.7 million television households. Nexstar intends to finance the station acquisition through borrowings under its senior credit facilities. The transaction is subject to FCC approval and other customary approvals, and is expected to close in the first quarter of 2015. In the first twelve months following the closing of the transaction, KASW-TV is expected to generate approximately $14M in adjusted broadcast cash flow and is expected to provide free cash flow accretion in the first year of ownership of approximately 30c per share.
October 21, 2014
09:55 EDTTWXBlackout not 'game changer' for Time Warner, DISH, says Wells Fargo
Wells Fargo believes the removal of several of Time Warner's (TWX) Turner channels from DISH's (DISH) line-up will not be a "game changer" for either company. Wells notes the majority of Time Warner's affiliate growth comes from TNT and TBS networks, and it does not expect the channel loss to impact DISH's subscriber trends. The firm expects the networks to come back to DISH "eventually."
October 17, 2014
10:58 EDTTWXHBO streaming service may cost around $15 a month, The Information reports
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08:00 EDTTWXHBO may have fight with cable operators over OTT service price, Reuters says
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